UIA-IM will be based in Chapel Hill, N.C. and is expected to launch with initial assets under management (AUM) totaling approximately $500 million. The firm will be led by Stephen A. Eason, CFA, a former senior manager at Amundi Smith Breeden, who has over 30 years of investment experience. Julie E. Curd, former Director of Client Service at Amundi Smith Breeden, is also joining the firm.

"We are pleased to add in-house U.S. fixed-income management to the range of investment services we offer to our union clients. UIA-IM will focus on the unique requirements of Taft-Hartley pension funds and union operating funds, and will also offer customized investment management services to other institutional funds including corporate and public pension funds, endowments and foundations, family offices, and government reserve funds," said Edward M. Smith, President and Chief Executive Officer of Ullico Inc.

"As a member of the Ullico family, UIA Investment Management will build on the 30-plus year success of Ullico's commercial real estate fund known as 'J for Jobs' and the more recent success of the Ullico Infrastructure Fund. Ullico is committed to building a best-in-class fixed-income company that provides tailored solutions to institutional clients," said Joseph R. Linehan, President of Ullico Investment Advisors.

"Our team is excited to partner with a firm that shares our values and long-term business perspective. Our new company will combine the resources of an established financial services company with an investment team offering a proven track record of success through market cycles," said Mr. Eason, who will serve as President of UIA Investment Management.

About Ullico

For more than 90 years, Ullico has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members, leaders and employers, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.

About UIA Investment Management

UIA Investment Management is a U.S. fixed-income management firm offering a range of U.S. fixed-income strategies tailored to meet the needs of institutional investors, including Taft-Hartley, public, and corporate pension funds, endowments, foundations, family offices, and sovereign entities.